What Does Rental Property Insurance Cover?

Owning a rental property in Texas can come with unique risks and responsibilities. At Associated Insurance, we recognize the importance of insurance for landlords and property managers to protect their rental properties in the event of an unforeseen incident.

Rental property insurance, also known as landlord insurance, provides essential coverage tailored specifically for individuals who rent out residential properties. While policies may vary depending on the insurer, a typical rental property insurance policy may offer the following:

• Liability coverage—Your policy may include liability coverage, which can help pay for legal fees, medical expenses or settlements if a tenant or visitor is hurt due to a property-related issue. It can also cover expenses related to third-party property damage.
• Property damage coverage—Rental property insurance can cover physical damage to the building itself and, in some cases, other structures, such as garages and sheds. Covered risks may include fire, theft, vandalism, and certain natural disasters. It’s essential to note that standard policies may not cover flood or earthquake damage, so additional coverage may be necessary.
• Loss of rental income—If your rental property becomes uninhabitable due to a covered loss, rental property insurance can help replace lost rental income while repairs are made. This coverage can help you meet your financial obligations even when your property is temporarily out of service.
• Additional coverage to consider—Depending on your needs, you may want to add extra protections such as coverage for landlord furnishings, equipment breakdown, or even tenant default. Our team can help you evaluate which options are best suited for your situation.

How We Help Texas Landlords

At Associated Insurance, we work closely with Texas property owners to identify risks and tailor rental property insurance policies that fit their needs. Our local expertise means we understand the challenges landlords face in Texas and are ready to help if ever they need to file a claim.

Contact Associated Insurance today to discuss your rental property options and request a personalized quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.